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Email this9:45 pm
May 15, 2007
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On Reddit, someone posted about an Amazon.ca Mastercard that might be coming in the next couple of months.
The alleged features are as follows:
- Points are redeemable for Amazon.ca gift cards
- If you are not an Amazon.ca Prime member, then it's 1.5% points back (essentially cash back against future Amazon.ca purchases) on Amazon.ca, Amazon store, and Whole Foods purchases, and 1.0% points back on all other purchases
- If you are an Amazon.ca Prime member, then it's 2.5% points back on Amazon.ca, Amazon store, and Whole Foods purchases, as well as purchases made in foreign currencies, and 1.0% back on everything else
For those who recall the now-cancelled Amazon Visa, this rumoured card is somewhat similar to that old card in that it gives you a break on the foreign currency exchange fee, although now in the form of higher rewards (and only if you are an Amazon Prime member) rather than a completely waived 2.5% fee. The Visa card automatically deducted your points credit against your card balance (thus, against any previous purchases), thus you weren't limited to Amazon.ca redemptions. And the earn rate was 2.0% on Amazon.ca purchases and 1.0% on everything else, regardless of whether you were an Amazon Prime member.
We'll all find out soon whether this card and its details are real. Of course, we can compare it against the currently available "no foreign currency exchange transaction fee" alternatives.
4:42 am
October 21, 2018
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If it's true, then I'm in.
7:41 am
April 2, 2018
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No thanks. That just encourage you to spend, spend, spend, spend $$$ on Amazon.ca.
Before you apply (when it becomes available) go though your closets and drawers and see how many shirts/pants/socks, memory cards, unused phones and other electronic garbage and whatnot you have and ask yourself: do I really need that fantastic deal which will save me $x if I buy it.
8:49 am
October 21, 2018
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pooreva, your reply is condescending and suggests I'm an idiot who can't control my spending. I can assure you that is not the case, and in fact I use Amazon to save a lot of money. I'll give you an example. I just changed the air and oil filter on my garden tractor. Those parts cost $51 total at Canadian Tire. The exact same parts were $27 bought on Amazon with free shipping and came to my mailbox which saved me a trip into town. My closet is not filled with useless crap as you suggest.
9:36 am
July 10, 2011
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April 26, 2019
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pwm said
pooreva, your reply is condescending and suggests I'm an idiot who can't control my spending. I can assure you that is not the case, and in fact I use Amazon to save a lot of money. I'll give you an example. I just changed the air and oil filter on my garden tractor. Those parts cost $51 total at Canadian Tire. The exact same parts were $27 bought on Amazon with free shipping and came to my mailbox which saved me a trip into town. My closet is not filled with useless crap as you suggest.
Not sure if pooreva is pointing comments directly to you or the world in general. But comments do appear to suggest most people misuse credit which is not true.
But keep in mind some retailers offer a card which best serves them, the retailer, and secondly you the customer. I had Costco Amex and then they changed to Mastercard in Canada and Visa in USA. Then Amex sent me an unwanted simply cash Amex card. WHAT A FIASCO!! It still ticks me off as they still grind on you to get a Costco Mastercard when you use a Non Costco Mastercard. I had the Amazon Visa which would work perfect with Costco USA. Then a few months later Amazon dumps the card or was it because the issuer wanted to get out of Canada? So applied and received a Home Trust VISA that has the no forex fee. And I really don't like Home Trust for some reason....maybe it is they are still in the dark ages but just can’t put my finger on it. Never the less an inconvenience to me and my credit rating. So if you are happy with cards you have and they appear to be stable, WHY BOTHER? The only reason why I would want a amazon MasterCard would be for the no forex fee.
Edit. And I had the Sears Mastercard with the no forex, that shifted to a Bank of Nova Scotia Mastercard with the no forex, that shifted to Bank of Nova Scotia Mastercard that DROPPED THE NO FOREX FEE! A card that offers online statements but NO notice that your statement is ready. They use the same platform as iTrade and iTrade CAN advise me my statement is ready. BNS is in the dark ages too, as far as I am concerned.
So now that my rant is almost over. My BNS Mastercard is useless and I thought I would dump it for an Amex Simply Cash but not sure if they have a no forex fee. This way I would have all cash back cards and would have Visa, Mastercard and Amex. But maybe I should get the Amazon Mastercard if it is cash back too? That way I would have a Visa and Mastercard with no forex fee.
1:14 pm
October 15, 2015
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I'm always surprised when people say stuff is cheaper on amazon. I find its prices usually on par with an item that is not on sale at a regular store. However if you can get it on sale, you can usually get it cheaper at a regular store (not always). This is my own experience, others may experience differently. I agree stuff like prime encourages people to spend more at amazon as it is so convenient. If you value convenience, thats great but don't think you are always getting the best price. And no i am not saying people are stupid, just certain things trigger spending. Personal finance experts talk about reduced friction as encouraging spending. Things like the autopayment at amazon would definitely fall into this. What i personally like about amazon is all the independent sellers who have such unique products. Regarding credit cards i'm tired of chasing rates. What i'm trying right now is to put all my discretionary spending on one credit card and see if that builds my awareness of my spending.
1:26 pm
April 26, 2019
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christinad said
I'm always surprised when people say stuff is cheaper on amazon. I find its prices usually on par with an item that is not on sale at a regular store. However if you can get it on sale, you can usually get it cheaper at a regular store (not always). I agree stuff like prime encourages people to spend more at amazon as it is so convenient. If you value convenience, thats great but don't think you are always getting the best price. And no i am not saying people are stupid, just certain things trigger spending. Personal finance experts talk about reduced friction as encouraging spending. Things like the autopayment at amazon would definitely fall into this. What i personally like about amazon is all the independent sellers who have such unique products. Regarding credit cards i'm tired of chasing rates. What i'm trying right now is to put all my discretionary spending on one credit card and see if that builds my awareness of my spending.
I agree. No doubt the PRIME membership may cause you to not shop around for best price.
I use both Amazon and more so eBay depending on price while fast delivery is often not needed for me.
You may want to make sure you have a widely accepted second card.
I have had cards go bad so quickly and unexpected when travelling.
I have 3 cards....1 too many. I like a Visa and Mastercard with a no forex fee for travel and one main card. The main card is used for face to face purchases while the other 2 are for online utility bills and some face to face purchases. Definitely I could do with 2 only.
9:24 pm
May 15, 2007
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After a bumpy launch and then unlaunch a few months ago, looks like the Amazon.ca Mastercard is open to applications again:
4:00 am
December 20, 2016
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Peter said
....
The reviews posted on the same page are not exactly a ringing endorsement.
The consensus of those reviews is that there are better cards available, and in my view, the Rogers World Elite MC that pays 1.75% on everything is hard to beat.
Stephen
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